Karachi: Cyan Limited has announced critical details regarding its merger with DH Partners Limited and Dawood Lawrencepur Limited, following the Islamabad High Court’s approval of the Scheme of Arrangement. This significant corporate action, sanctioned on February 12, 2026, marks a pivotal point for the involved companies under Sections 279 to 283 and 285(8) of the Companies Act, 2017.

The Scheme outlines the issuance of shares by Dawood Lawrencepur Limited (DLL) to shareholders of Cyan Limited and DH Partners Limited (DHPL). Specifically, shareholders of Cyan Limited will receive 7.2974 shares of DLL for every 100 shares they hold, while DHPL shareholders will receive 4.7724 shares of DLL for every 100 shares owned. The Record Date to finalize shareholder entitlements is set for March 13, 2026, with the last trading day for Cyan Limited shares being March 11, 2026.

In compliance with the Scheme, Cyan Limited’s share transfer books will close permanently from March 13, 2026. Shareholders are advised to ensure transfers are processed through CDC Share Registrar Services Limited by March 12, 2026. Holders of physical share certificates must submit these certificates along with a certified CNIC to the company’s Share Registrar for the conversion to DLL Shares. Alternatively, they may deposit their physical certificates into the Central Depository System (CDS) via a broker or CDS participant before the deadline to receive shares in book entry form.

According to information available from the Pakistan Stock Exchange (PSX), Cyan Limited will be dissolved without winding up once DLL shares are allotted, and it will automatically be de-listed from the exchange. Shareholders need to update their records with relevant parties to ensure proper communication and registration of DLL Shares entitlements as per the Scheme’s provisions.

The company’s announcement urges shareholders to coordinate with their respective CDC Investor Account Services or the Share Registrar to confirm the registration details and postal addresses, ensuring a seamless transition of shares. This strategic move signals Cyan Limited’s operational cessation, aligning with the broader corporate restructuring under the merger agreement.